dYdX’s U.S. Strategy: Is DeFi Capable of Bouncing Back After a $19B Shutdown?
- dYdX plans U.S. market entry by 2025, expanding spot trading amid Trump-era regulatory optimism for crypto derivatives. - A 2025 outage caused $19B in liquidations due to oracle failures, prompting $462K insurance fund compensation for traders. - dYdX's community-driven response contrasts with Binance's $728M relief package, highlighting DeFi's vulnerability to infrastructure flaws. - The exchange will exclude perpetual contracts initially in the U.S. and cut fees by 50% pending regulatory clarity on der
Decentralized exchange
dYdX's decision to expand into the U.S. comes after a turbulent period, including an eight-hour chain halt in October 2025 during what became the largest liquidation event in crypto history, erasing $19 billion in positions, as reported by
dYdX’s compensation approach differed from Binance, which offered a $728 million relief package that included token vouchers and a
Recent regulatory shifts have also played a role in dYdX’s U.S. plans. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have shown willingness to regulate perpetual contracts, which dYdX currently offers only outside the U.S. Once in the U.S. market, the exchange intends to cut trading fees by as much as 50%, though perpetual contracts will not be available at launch, pending further regulatory direction.
According to Nansen, dYdX’s token (DYDX) has dropped 50% in value over the past month, highlighting the difficulties of operating in a volatile environment. The platform’s governance vote after the outage and its U.S. expansion reflect a broader effort to balance decentralization with user safety, a topic that continues to be discussed in the industry regarding liquidity protection and oracle reliability.
As dYdX gears up for its U.S. launch, its success will depend on how well it manages regulatory challenges and technical stability. By offering spot trading and lower fees, dYdX aims to attract U.S. crypto traders who have traditionally used centralized platforms like Coinbase and Kraken.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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